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资本结构与企业绩效的关系受到诸多因素的影响。本文主要利用云南省上市企业基本数据对资本结构和企业绩效的关系进行实证分析,得出,在其他因素一定的前提下,资产负债率与净资产收益率呈负相关的关系,资产负债率与托宾Q值之间也呈负相关关系。说明,云南省上市企业的债务融资不能起到提高企业绩效的作用,债务比例的增加而公司的绩效会下降。
The relationship between capital structure and firm performance is influenced by many factors. This paper mainly uses the basic data of listed companies in Yunnan Province to empirical analysis of the relationship between capital structure and business performance, and draws a conclusion that under the certain conditions of other factors, the asset-liability ratio is negatively correlated with the return on net assets. The debt-to- Tobin Q value is also a negative correlation between. This shows that the debt financing of listed companies in Yunnan Province can not play the role of improving corporate performance, and the debt ratio will increase while the performance of the company will decline.